OREANDA-NEWS. Until 31.08.2011, OJSC Nordea Bank is running a specialized action for mortgage loan programs called "Summer! Stripping off the mortgage!" in all regions of the Bank’s presence, reported the press-centre of  Nordea Bank.

The action envisions the following changes to the mortgage lending conditions:

reduction of the down payment under "Classic", "Special-Purpose" and "Any-Purpose" mortgage loans down to 10% of the apartment mortgaged;

cancellation of the 1% surcharge for applicants proving their income with the employer’s certificate drawn up in a voluntary form;

reduction of the mortgage loans’ interest rate by 0.5%. Now the interest rate for loans requiring personal and title insurance, regardless of the income confirmation form, is from 8.5% to 14.5% per annum in RUB and from 6% to 12% per annum in USD or EUR, depending on a loan program and a fixed rate period;

introduction of an additional fixed rate period – 6 years. So, the interest rate may be fixed for 1, 2, 3, 4, 5, 6, 7 and 10 years or the whole credit period of up to 30 years;

reduction of the margin to the market indexes of LIBOR 12 months, EURIBOR 12 months for FX loans down to the margin to MosPrime Rate 6 months for RUB loans. It means that, regardless of the currency and income confirmation form, such margin after expiration of the fixed rate period will be 5%;

cancellation of the 1% surcharge under program "Shared Construction Mortgage Loan" pending the mortgage registration. Now the interest rate thereunder is the same as that under program "Classic Mortgage Loan" (enabling to buy an apartment or a residential house on the secondary market) and stands at 6% to 10% for FX loans and from 8.5% to 12.5% for RUB loans.

"The mortgage lending development is a priority goal for the Bank’s retail business. As part of this action we are offering one of the market’s most attractive mortgage conditions. I am convinced that our new mortgage offer will be interesting and popular among customers, as this summer the mortgage is becoming even cheaper", – remarks Deputy Chairman of OJSC Nordea Bank’s Management Board Andrei Maltsev.

Nordea Bank offers mortgage loans "Classic", "Special-Purpose" and "Any-Purpose", as well as "Shared Construction Mortgage Loan", which the Bank is implementing jointly with partner companies. Among other important advantages of the Bank’s mortgage programs: 30-year maturity, no prepayment penalty, differentiated or annuity repayment option, acceptance of commercial real estate and land plots as collateral, no upfront fees, possibility to use a covered irrevocable letter of credit for the settlements under a mortgage deal and many others.